The units are very utilitarian, in the first listing there are only 2 art pieces in the living room, they are too small for the wall, and they look like they were ordered off of amazon which isn't necessarily bad but it also doesn't stand out.

A PMC can get a bad reputation really fast and be forced to use only the WORST contractors that are unreliable hacks. 

Some of the best investment were made in bad neighborhoods and higher crime rates then as usual the area becomes gentrified and continues to grow in both equity and passive income.

(It costs 10k+ to drain, clean, refill the pool so I only do it once an year and this is pretty standard) I think it is matter of if it looks dirty or smells bad when guests use it.

You’re risking other people’s money and you also need to get burned if it goes bad.  

Would people say your underwriting was good or bad?

Very easy to get pulled into a bad property or an area you’re not comfortable with by listening to the wrong people.

I wouldn’t want to buy a bad deal, regardless of the tax consequences.

Definitely a bad move on my part. 

If you start a JV in name but do not give your partners proper control and decision-making rights and the deal goes bad you open yourself up to serious consequences which can lead to SEC violations with extremely high fines.Lastly, you can offer the project up to investors who have no voting or control.